rails: has_one relation start deleting existing record even when new record failed passing validation

Steps to reproduce

class User
  has_one :totp_setting
end

class TotpSetting
  belongs_to :user
  validates :user_id, presence: true, uniqueness: true
end

# in rails 7.0.4
@user.create_totp_setting! # => first record
@user.create_totp_setting! # => uniqueness error

# in rails 7.0.5
@user.create_totp_setting! # => first record
@user.create_totp_setting! # => delete first record and succeeds

Expected behavior

@user.create_totp_setting! # => first record
@user.create_totp_setting! # => uniqueness error

Actual behavior

@user.create_totp_setting! # => first record
@user.create_totp_setting! # => delete first record and succeeds

System configuration

Rails version: 7.0.5

Ruby version: 3.1.4